Internal - Faculty & Staff


Regardless of your age or where you are in your career, it is never too early to begin thinking about or planning for retirement.

The Simmons University Defined Contribution Retirement Plan (DC Plan) assists with securing your future by helping you reach important financial goals for retirement with 1st day eligibility for our Benefit-Eligible Faculty and Staff as well as our Adjunct Faculty.

Eligible employees can have 3% of base salary deducted each pay period. All of your contributions are fully vested (meaning you own the money in your retirement plan at all times). Simmons matches this contribution at 5% for Benefit-Eligible Faculty and Staff. Adjunct contributions are not matched.

As of January 1, 2023 Simmons enhanced Defined Contribution Plan, also referred to as the Simmons Retirement Plan, to offered a more consolidated offering. Please review the notice here for more information.

Tools and Resources
  • For assistance with online enrollment in the Simmons University Defined Contribution Retirement Plan (DC Plan), call TIAA at 1-800-842-2888 (M-F, 8 AM – 10 PM, Saturday 9AM – 6PM). You will also need the plan number noted below when you call.
    • Simmons University Defined Contribution Retirement Plan (Plan Number 150907)
  • To set up a complimentary individual consultation with TIAA, call 1-866-843-5640 (M-F, 9 AM – 8 PM). For further information on the individual consultations and future available appointments please go to
  • Access your accounts online at
  • Retirement Plan Questions for TIAA: 800-842-2252 (M-F, 8 a.m. – 10 p.m., Saturday 9 a.m. – 6 p.m.)
  • If you have retirement plan assets with TIAA (including prior accounts with other employers) in excess of $500,000, or if you have complex retirement planning needs, or if you are considering retirement in the next five years, you may be able to qualify for services from TIAA’s Wealth Management Group. They can be reached at 1-866-220-6583.
  • Up-to-date fund information can be accessed here.
Retirement Plans

Simmons offers a retirement plan for eligible employees, through TIAA.

  • Simmons University Defined Contribution Retirement Plan (Plan Number 150907)

Simmons University Defined Contribution Retirement Plan

In the Defined Contribution Plan, eligible employees can save 3% of base salary deducted (pre-tax) each pay period. Your personal contributions are fully vested immediately (meaning you own the money in your retirement plan at all times). Simmons does provide matching contributions for benefit-eligible Faculty and Staff

In CY2023, you can contribute up to $22,500 to the Defined Contribution Plan. Employees over age 50, or turning age 50 in 2023, can contribute an additional $7,500. Please note that the IRS limits apply to all contributions you make from your paycheck, including prior/other employer plans, in the current calendar year.

Investment allocation changes for the plans above are made directly through TIAA.

Enrollment and Payroll Contributions

How to Enroll in the Defined Contribution Retirement Plan with TIAA

  • Go to, click “Ready to enroll.” The website will assist you in enrolling in the Simmons Retirement Plan.
  • For help during online enrollment, call TIAA at 1-800-842-2888.
  • You may need the Plan number while enrolling in the Plan. The Simmons University Defined Contribution Plan, the access code is 150907.
  • You will also need to designate investment funds you would like to invest your money in. Up-to-date information on the funds can be found here. If you do not elect an investment allocation before your 1st payroll contribution we will default your investment offering to our Qualified Default Investment Alternative (QDIA), which is the Harvard Target Retirement Fund based on your age 65th birthday, which you can change at a later date. PLEASE NOTE: IN ADDITION TO ENROLLING WITH TIAA YOU MUST ALSO MAKE CONTRIBUTION ELECTIONS THROUGH WORKDAY, SEE BELOW.

How to Enroll and/or Change your Payroll Contributions

  • Please enter your contribution amount through Workday via your Benefits option under the Menu prompt. Please see this helpful Job Aid for Assistance. If you are making a change in your payroll contribution in Workday, all changes are effective the 1st of the month after the change is made.
Retirement Oversight Committee

The Retirement Plan Oversight Committee serves as the administrator of Simmons University’s retirement plans in accordance with the Employee Retirement Income Security Act (ERISA). The Committee has a number of responsibilities as outlined in the Simmons University Retirement Plan Charter. One of its primary duties is to select and monitor the investment options and fund managers under the Plan. The Committee meets regularly to review overall plan design and the performance of funds.

SAVI – Public Service Loan Forgiveness Assistance

SAVI is brought to you by Simmons through TIAA this tool helps strengthen your financial footing in the short term and positions you for student loan forgiveness. SAVI can also assist with Public Loan Service Forgiveness Applications (PSLF).